FinTech News: March 11th, 2016

This week in FinTech: Why it’s time to stop focusing on “tech” and start looking at “fin,” 15 infographics that show a more detailed view of the industry, $75 million in new funding, and what the UK Brexit means for London’s fintech scene.

Yahoo! was founded in 1994 and once enjoyed a comfortable position as the inventor of the search engine. But Google quickly built a more sophisticated directory of the web with a stronger algorithm to find relevant results. Yahoo’s reluctance to work with Google was crippling, and should be a warning signs for banks, who may eventually face strong competition from today’s startups.

Everyone is missing the point over bitcoin and blockchain technology. It is revolutionary because it takes a new approach to finance, being recognized as an international currency without being backed by any government. Time to focus less on the underpinnings of the technology and more on increasing its reach and adoption.